The The Baldwin family is known in Hollywood for their acting success.Stephen, on the other hand, had a career full of ups and downs. He had moments of growth and then crashed into a hard wall built by financial problems.
From the 90s, until after the pandemic, it dragged all kinds of debts for non-payment of taxes, bankruptcy of their companies and problems with their lawyerswe will now review that journey.
The hard story of Stephen Baldwin, the actor who earned millions but was overcome by debt
During the 90s the first problems appeared, when he started to have claims for non-payment of taxes. It is believed that he accumulated a considerable debt to the Internal Revenue Service (IRS). On the other hand, in 1997 he founded the company Essential Entertainment, which declared bankruptcy just two years later.
From the year 2000, they began to arrive mortgage debts that he could not afford, adding to his list of unfulfilled obligations. In 2009, one of his houses, the one in New York, was seized because Stephen had a debt of 1.2 million dollars.
That same yeardeclared bankruptcy. He had $1.1 million in assets but owed at least $2.3 million. To add insult to injury, in 2010 he was sued by a company called Plastic Cash International for breach of contract related to the promotion of a credit card.
In 2011 the non-payment of rent on a house in Los Angeles. The following year, he was hit with a state tax debt of about $350,000.
In 2017, things got even more complicated because of a debt owed to a lawyer who defended him in a 2015 case and sued him for $68,000. The following year, he was also sued for breach of contract for not appearing in a film, the amount of the lawsuit was $110,000.
In 2020, a new debt was added to another lawyer who accused him of not paying his fees and sued him for $77,000.
Finally, with the Covid pandemic, she faced problems in her film projects due to cancellations, as well as in public events. This period generated even more impact on her financial situation.
Source: Ambito
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